The report “Hydrochloric Acid Market by Grade (Synthetic, By-product), Application, End-use industry (Food & Beverage, Pharmaceutical, Textile, Steel, Oil & Gas, Chemical), Region (North America, Europe, APAC, MEA, South America) – Global Forecast to 2027″, is projected to grow from USD 2.5 billion in 2022 to USD 3.4 billion by 2027, at a CAGR of 6.6% during the forecast period. The growth of the hydrochloric acid market is attributed to many small-scale applications including household cleaning, constructing buildings, and processing leather. Further, hydrochloric acid has been used to dissolve calcium carbonate, for example, to descale kettles and remove mortar from masonry. When used on brickwork, the interaction between the acid and the mortar only lasts until the entire amount of acid has been converted, producing calcium chloride, carbon dioxide, and water.
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• 247 Market data Tables
• 43 Figures
• 231 Pages and in-depth TOC on “Hydrochloric Acid Market – Global Forecast to 2027”
Some of the prominent key players are:
· BASF SE (Germany)
· Covestro AG (Germany)
· Olin Corporation (US)
· Westlake Chemical Corporation (US)
· Occidental Petroleum Corporation (US)
· Formosa Plastics Corporation (Taiwan)
· Tata Chemicals Limited (India)
· AGC Chemicals (Japan)
· ERCO Worldwide (Canada)
Opportunity: Extensive laboratory use of hydrochloric acid
Hydrochloric acid is the monoprotic acid that is least likely to have an interfering oxidation-reduction process among major strong mineral acids, such as sulfuric acid, nitric acid, and phosphoric acid used in chemistry. Despite its acidity, it contains the non-reactive and non-toxic chloride ion, making it one of the least hazardous strong acids to work with. Solutions of intermediate-grade hydrochloric acid are stable when stored and retain their concentrations over time. Hydrochloric acid is an excellent acidifying reagent because of its qualities and the fact that it is available as a pure reagent, along with economical pricing. Hydrochloric acid is preferred in titration to measure the concentration of bases. Strong acid titrants produce more accurate findings since the endpoint is more concise. Although its specific concentration depends on the air pressure when it is prepared, azeotropic, or “constant-boiling,” hydrochloric acid (approximately 20.2%) can be used as a primary standard in quantitative analysis
Syntehtic grade segment to be the fastest growing grade during the forecast period
Synthetic hydrochloric acid is a chemical substance, an aqueous solution of hydrogen chloride gas. It is colorless to pale yellow and has strong corrosive qualities and an unpleasant odor. The process of burning chlorine in hydrogen and subsequently absorbing hydrogen chloride into water results in synthetic hydrochloric acid. A synthetic grade of hydrochloric acid is offered on the market with a concentration ranging from 33.3% to 35.5%. The synthetic grade of hydrochloric acid meets with European Standard EN939 for the use of a material used for water treatment. Such a high-quality product can be used in procedures that treat water for both industrial and domestic use and in highly demanding industries such as food and cosmetics.
North America to be the second largest region in the hydrochloric acid market during the forecast period
North America has long been one of the critical markets for hydrochloric acid. The North American market mainly comprises the US, Canada, and Mexico; the US is the dominant market in the region, with a share of more than 87% in terms of volume. The market for hydrochloric acid in the US is driven by its local industrial demand and exports to NAFTA and South America.
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